Greek consumer price inflation slows to 0.2 pct in January

Greece’s annual EU-harmonised inflation rate slowed in January, statistics service ELSTAT data
showed on Thursday.
The reading in January was 0.2 percent from 1.0 percent in December. The data also showed the headline consumer price index turned negative at -0.2 percent year-on-year from 0.7 percent in the previous month.
Greece had been in a protracted deflation mode since March 2013 based on its headline index, as wage and pension cuts and a multi-year recession took a heavy toll on Greek household
incomes.
Deflation in the country hit its highest level in Nov. 2013 when consumer prices registered a 2.9 percent year-on-year decline. The economy emerged from deflation in June 2016.